CFOs’ optimism in respect of economic development continues despite the expected slow-down in economic growth in 2016. Deloitte’s survey shows that more than half of CFOs in the Czech Republic estimate the GDP growth to range between 1.5 and 2.5 percent. The concerns about low unemployment and lack of qualified labour persist. 95% of CFOs consider the growth in salaries to be one of the largest expenses to influence business in 2017. That is the reason why they want to reduce costs of production rather than labour.

“This year’s survey showed that 80% of CFOs consider finding a sufficient number of qualified employees to be a critical issue. The increasing demand for labour is connected to the pressure on growth in salaries. The sources of inflation are also expected to include growing rentals and real estate prices. Another critical issue for 2017 will be the termination of the CNB’s exchange rate commitment and returning the Czech crown exchange rate to the market regime, albeit with possible significant interventions of the central bank in case of excessive fluctuation,” reminded Martin Tesař, Audit Partner of Deloitte.

According to CFOs in the Czech Republic, the GDP will continue to grow while unemployment will remain very low. CFOs’ opinions show that the Czech economy will thrive despite the UK leaving the EU. They also admit a lower risk appetite with 28% of CFOs considering the business environment very uncertain.